NS&I Premium Bonds

NS&I Premium Bonds are just like normal bonds except, every month, they give one of their policy holders the chance to win £1 million. However, NS&I bonds don't pay interest every month and instead only provide their policy holders with the opportunity to win 1 million pound. Each month a guaranteed winner can be selected to win the prize fund, or win additional prizes.

How Do NS&I Premium Bonds Work?

Instead of paying holders interest, NS&I give you a unique bond number for every £1 you invest. For each bond number, you have a chance to win £1 million every month. There are also other prize payouts, from £25 to £100,000 every month.

You must hold your bonds for one calender month before you can be eligible for the draw. For example, bonds purchased in May will only be eligible for draws in June.

Who can invest?

Anyone over the age of 16 can have an NS&I premium bond and be eligible for a prize draw. However, parents, guardians and grand parents can invest on behalf of under 16s. The minimum investment is £100 and the maximum investment is £30,000.

What are the tax and notice arrangements on the bonds?

Currently, NS&I premium bonds are tax free. You can access you account online, by the phone or through the post office - there are no penalties for withdrawing money and there doesn't need to be any notice before you withdraw.

Who should get a NS&I bond?

If you want the chance to win £1 million every month, a tax free investment and have £100 or more to invest, you should consider an NS&I bond. However, if you're looking for regular income from your savings and guaranteed returns you should not invest with NS&I bonds.

Is it secure?

NS&I premium bonds are protected and held in the HM Treasury. Premium bonds are 100% secure whether or not you win the £1 million and you can withdraw you savings whenever you wish. There are a supposed 800,000+ unclaimed prizes from NS&I premium bonds, so there is a chance of a guaranteed winner every month.